Omeros (NASDAQ:OMER) Sets New 52-Week High – Time to Buy?

Omeros Co. (NASDAQ:OMER) reached a new 52-week high during trading on Friday . The company traded as high as $13.60 and last traded at $10.24, with a volume of 5997596 shares traded. The stock had previously closed at $7.46.

Analyst Ratings Changes

A number of equities analysts have commented on OMER shares. Rodman & Renshaw initiated coverage on shares of Omeros in a report on Thursday, November 14th. They issued a “buy” rating and a $9.00 price objective on the stock. StockNews.com upgraded Omeros from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Cantor Fitzgerald reissued a “neutral” rating on shares of Omeros in a report on Thursday, November 14th. Needham & Company LLC restated a “hold” rating on shares of Omeros in a report on Thursday, November 14th. Finally, RODMAN&RENSHAW upgraded Omeros to a “strong-buy” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Omeros Stock Up 37.3 %

The firm has a market capitalization of $593.41 million, a P/E ratio of -4.43 and a beta of 1.97. The business’s 50 day moving average is $6.96 and its two-hundred day moving average is $5.13.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in Omeros by 121.3% in the 3rd quarter. Barclays PLC now owns 94,640 shares of the biopharmaceutical company’s stock worth $376,000 after purchasing an additional 51,873 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Omeros by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,339,251 shares of the biopharmaceutical company’s stock valued at $5,318,000 after purchasing an additional 6,839 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Omeros by 19.2% in the third quarter. MML Investors Services LLC now owns 18,600 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 3,000 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Omeros by 15.9% in the third quarter. Jane Street Group LLC now owns 58,277 shares of the biopharmaceutical company’s stock worth $231,000 after buying an additional 8,010 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of Omeros during the third quarter valued at $305,000. Institutional investors and hedge funds own 48.79% of the company’s stock.

Omeros Company Profile

Omeros Corporation, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting immunologic diseases, including complement-mediated diseases, cancers, and addictive and compulsive disorders. The company’s products under development include Narsoplimab (OMS721/MASP-2) that has completed pivotal trial for hematopoietic stem-cell transplant-associated thrombotic microangiopathy (TA-TMA); that is in Phase III clinical trial for the treatment of immunoglobulin A nephropathy (IgAN); and Phase II clinical trial to treat COVID-19.